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Dec 31, 2012
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facing a dreaded combination of spending cuts and tax hikes... president obama made an appearance, on n-b-c's meet the press. "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." democrats want to keep the bush-era tax cuts for everyone, except the wealthiest americans. just how wealthy?..is a major sticking point... with negotiations now focused on an income threshold around 400-to-500 thousand dollars. *republicans argue the problem isn't tax revenue...but spending. they want reforms to entitlements. but a proposal to change the way social security benefits are measured against inflation was pulled from the table. vice president joe biden -- talked to minority leader mitch mcconnell several times today...in an effort to break the stalemate. hopefully, the discussions between the vice president and senator mcconnell will get us back on track, hopefully get a breakthrough and something we can vote on. i hope by the end of day tomorrow nigh
facing a dreaded combination of spending cuts and tax hikes... president obama made an appearance, on n-b-c's meet the press. "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." democrats want to keep the bush-era tax cuts for everyone, except the wealthiest americans. just how wealthy?..is a major sticking point... with negotiations now focused on an income threshold around...
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Dec 31, 2012
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including a tax credit for families with children the education tax credit. >> he said he would have liked to have gotten a bigger deal done but unfortunately he was not able to do that. this will have to be ruled out in several steps. checking chicagos letter which is kind of great as the final day of 2012. snow passing downstate as you can see on the radar. if you're heading south be aware of that. we may get a flurry but a lot of this hanging up in the clouds over the city. it will be moving out of here tonight. we get into some serious cold there. this low pressure a streaking along fast. high pressure comes in and brings the sun back tomorrow. look at the temperatures and how cold it is out west of us. we've got 310 days without a subfreezing reading. the hundred and 10 days310 days is just not happened before. tomorrow it happens, we go into subfreezing daytime high territory. we bring to an end, a record. live records going back 142 years. thirties' now around the city. the winds are west at 12. makes it feel like it is 22. that is the reading right now. here the temperatures
including a tax credit for families with children the education tax credit. >> he said he would have liked to have gotten a bigger deal done but unfortunately he was not able to do that. this will have to be ruled out in several steps. checking chicagos letter which is kind of great as the final day of 2012. snow passing downstate as you can see on the radar. if you're heading south be aware of that. we may get a flurry but a lot of this hanging up in the clouds over the city. it will be...
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Dec 28, 2012
12/12
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WGN
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the democrats want to extend the bush era tax cuts for those thinking less than $250,000. >> to taxes will go up for every taxpaying american. republicans are not about to write a blank check to us because we find ourselves at the edge of the cliff. >> consistently show that a majority of americans support the president's position on tax es. >> did the shooting as the chicago at 500 homicides for the year. >> so far no comment yet. chicago police have been working hard to prevent it. the 500 happened last night. the shooting death on the west side. 40 year-old nathaniel jackson was pronounced dead just after midnight. three hours after he was shot in the head. his death pushed chicago homicide rate to 500. today that is the talk of the town. >> it is crazy. i think these people are going out of their mind. the need to do something about >> this is only the second time this decade that the homicide rate has hit 500. there were 512 in 2008. the number dropped in recent years. earlier this you're the police superintendent shook up the department to target high crime areas. some feel that
the democrats want to extend the bush era tax cuts for those thinking less than $250,000. >> to taxes will go up for every taxpaying american. republicans are not about to write a blank check to us because we find ourselves at the edge of the cliff. >> consistently show that a majority of americans support the president's position on tax es. >> did the shooting as the chicago at 500 homicides for the year. >> so far no comment yet. chicago police have been working hard...
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there is another reason, the year for goodwill, it's the a lot of day people can get that donation tax write off for 2012. >> right. we're waiting for 2013 to arrive here, much of the world welcomed new year, here is how they kit d.it in london. the well bells of big ben rang loudly. lit up the river thames over a wide area you can see just spectacular, cost australia $7 million to pull off this display. that is billed as the world's most expensive z take a look at this light show in dubai. seeing it, just watching it costs $4300. and an amazing scene now in new york time square. a million people expected to watch the ball drop. new year arrives there in about two and a half hours from now. very exciting. now, you can bring in the new year with abc. there will be a special celebration of dick clark's live, atd 10:00 there is a a program with ryan seacrest, then at 11:00 preparations and celebrations on abc 7 news, then at 11:30 going back to new york with so a big night here on abc 7. celebrating new year's. >> we have you covered. >> still to come on abc 7 news at 6:00 a deal may be20
there is another reason, the year for goodwill, it's the a lot of day people can get that donation tax write off for 2012. >> right. we're waiting for 2013 to arrive here, much of the world welcomed new year, here is how they kit d.it in london. the well bells of big ben rang loudly. lit up the river thames over a wide area you can see just spectacular, cost australia $7 million to pull off this display. that is billed as the world's most expensive z take a look at this light show in...
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Dec 28, 2012
12/12
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any time the rpublican candidate is viewed as the tax sector. in many had to defend his position in the debate he was a way out of his way to say, if you are wealthy and all you're not getting any tax cuts, and it was a defensive argument on a fundamental issue rather than pointing president obama had twice argue in public that raising taxes in an economic downturn would doom the economy. the president of the united states said that and iran on a proposal. lou: two things that seem peculiar. i would love for both of you to respond. i heard a lot of bonn, abou the tea party. the tea party did not exist in this election. it was a non fctor. why in the world would there be so much concerin the republican party about the tea party. why was there an idea that you're better off today than you were four years ago and pick 2008 as the year, he baseline, and it was a lousy year. in point of fact, just about everybody is. what o you make? very quickly. >> your immediate questn, yes, we were better off than the depths of being in a whole. president clinton
any time the rpublican candidate is viewed as the tax sector. in many had to defend his position in the debate he was a way out of his way to say, if you are wealthy and all you're not getting any tax cuts, and it was a defensive argument on a fundamental issue rather than pointing president obama had twice argue in public that raising taxes in an economic downturn would doom the economy. the president of the united states said that and iran on a proposal. lou: two things that seem peculiar. i...
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Dec 31, 2012
12/12
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has an incomes tax liability. you oval don't want to see our -- you obviously don't want to see our defense have to deal with what would be deep, deep cuts in our national security budget. those are two things that will happen tomorrow unless congress can act to prevent that. and so count me among those who wants to be, see a solution. i certainly hope that the negotiations that are occurring right now can conclude in a way that will give us an outcome, that prevents those tax rates from increasing on americans across this country and also put in place some things that would actually deal with the real problem. and the real problem, mr. president, is that our country spends too much. and we are where we are today because we haven't done our work when we should have previously. if you think about the fact that for three consecutive years -- three years in a row -- in the united states senate we haven't passed a budget. we spent $3.5 trillion of american taxpayer money every single year and for three consecutive yea
has an incomes tax liability. you oval don't want to see our -- you obviously don't want to see our defense have to deal with what would be deep, deep cuts in our national security budget. those are two things that will happen tomorrow unless congress can act to prevent that. and so count me among those who wants to be, see a solution. i certainly hope that the negotiations that are occurring right now can conclude in a way that will give us an outcome, that prevents those tax rates from...
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but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get through the house but you never know. >> you shouldn't predict how the senate will vote before they vote and number two, you surely shouldn't predict how the house is going to vote. >> reporter: it would extend tax cuts for all workers earning under $400,000 and raise taxes on people above that level and prevent a big tax hike in an estate valued at less than $5 million and extend unemployment benefits for 2 million people. the house will take it up later this morning, the hope is that chamber can pass it before the economy is rocked by the tax hikes. >> happy new year. i feel very, very good. >> reporter: president obama called the senate vote the right thing to do for the country and he encouraged the house to pass it right away. >> all right, abc's tahman bradley reporting from washington. thanks. have a very happy new year. we know you're going to be today, tahman. >> same to y
but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get through the house but you never know. >> you shouldn't predict how the senate will vote before they vote and number two, you surely shouldn't predict how the house is going to vote. >> reporter: it would extend tax cuts for all workers earning under $400,000 and raise taxes on people above that level and...
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Dec 27, 2012
12/12
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let the bush tax cuts expire. make sure the middle class doesn't have to pavement the schif a manufactured media drama. >> laura: wow, can you say out of touch? joining us now from new york is maxwell a democratic strategist and guy benson the political editor for "town hall.com." okay. this is quite something. we have been hearing from the obama white house, the congressional budgetffice and any number of conservative economistst that this is serious. that we have got to get this thing done that we have got to get it in order. or at some point america's full faith and credit is going to go away. we are not going to look so good to the rest of the world as far as credit risk. so let's talk to you about this. is this a manufactured media crisis or does something substantial need to be done here? >> well, i certainly think that the fiscal cliff, that language is a manufactured media narrative. that americans believe on january 1 we are going to be standing in line for bread. that's not going to happen this is all be
let the bush tax cuts expire. make sure the middle class doesn't have to pavement the schif a manufactured media drama. >> laura: wow, can you say out of touch? joining us now from new york is maxwell a democratic strategist and guy benson the political editor for "town hall.com." okay. this is quite something. we have been hearing from the obama white house, the congressional budgetffice and any number of conservative economistst that this is serious. that we have got to get...
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Dec 27, 2012
12/12
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say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to the silliness of what we are in right now, which is the last throes of these congressional shenanigans. we may get a deal. i talked to some folks on the senate side who think they can get a deal together in the next 48 hours, that there will probably be some meet nth white house in the next 24 to 367 hours. and it's possible they could cobble together something. but i did have others who said to me, particularly those on the house said that said you know what, it's almost easy irat this pointing to over the cliff. next week they get to be cutting taxes, where this week they're raising them, ev
say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to...
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Dec 31, 2012
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unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the cliff may not look great but the dow is up for the time being. we have fox coverage with wendell at the white house. but, first, mike is live on capitol hill. the senate leader is the -- actually, the minority leader, what is he telling colleagues? >>reporter: he said they are very, very close. he would like to take action to avoid having americans suffer a huge tax increase in a matter of ten hours. there are a lot of anxious senators walking around wondering if or when they will get a chance to vo
unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace:...
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Jan 1, 2013
01/13
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that broke 20 years of opposition to tax hikes. >> republicans said they would never agree to raise tax rates on the wealthiest americans. >> only five senate republicans voted no. >> middle-class families will wake up to the assurance that their taxes will not go up $2,200 each. >> not so fast. house speaker and his members might not go along. john boehner sent house members home to celebrate the new year without a vote. >> this is disgusting. everybody involved should be embarrassed. >> the economy could still take a hit. the house takes up whether to follow the senate's lead and hike taxes on the wealthy. steve handelsman, nbc news. >> the first same-sex couples work legally wed in a ceremony at city hall this morning. >> kim dacey is live this morning with all of the details. >> it was an historic night at city hall as the first same-sex couples did get married in a special ceremony this morning. seven couples took their vows. the mayor performed the first ceremony. she has marriage power. she also is an ordained minister. she married jim and bill, a couple that has been together fo
that broke 20 years of opposition to tax hikes. >> republicans said they would never agree to raise tax rates on the wealthiest americans. >> only five senate republicans voted no. >> middle-class families will wake up to the assurance that their taxes will not go up $2,200 each. >> not so fast. house speaker and his members might not go along. john boehner sent house members home to celebrate the new year without a vote. >> this is disgusting. everybody involved...
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Jan 1, 2013
01/13
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social security payroll tax. there was a 2% payroll tax holiday enacted two years ago and putting that back in this bill was not part of the deal. so that tax holiday allowed to expire. about $20 a week from worker's paychecks will be going back to the social security trust fund instead of into their pockets. back to you guys. >> all right. thank you very much. >>> happening now, gay marriage ceremonies in maryland. same sex couples some of them started taking their vows at the stroke of midnight. marriage licenses were given out on december 6th. but the new law didn't go into affect until the new year. dozens of same sex weddings are scheduled for today. this day would not be possible if not for people like patrick. for nearly ten years he's been in the fight for ten years. they were one of the first couples to sue maryland for marriage equality. patrick joins us by phone to talk about this historic day. good morning to you. happy new year. >> good morning. happy new year. >> how are you feeling today? >> i'm ex
social security payroll tax. there was a 2% payroll tax holiday enacted two years ago and putting that back in this bill was not part of the deal. so that tax holiday allowed to expire. about $20 a week from worker's paychecks will be going back to the social security trust fund instead of into their pockets. back to you guys. >> all right. thank you very much. >>> happening now, gay marriage ceremonies in maryland. same sex couples some of them started taking their vows at the...
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Jan 1, 2013
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there is one tax that will rise for most workers. we're talking about the 2% payroll tax cut that was part of an obama stimulus that was passed two years ago and then extended for another year. in this deal, they're going to let that payroll tax cut expire and that will mean that an additional $20 a week out of most workers paychecks will now go back to the social security trust fund instead of into their pockets. juror all right. thank you -- >> all right. thank you for that report. >>> one major issue is the bill does not address is the debt ceiling. monday, the u.s. reached its legal borrowing limit and now the treasury department must work to buy time until the end of next month. the department will suspend some investments and benefit funds for federal workers. still, department will not be able to pay all of the nation's bills on time. this could set stage for another capitol hill battle as congress must vote to raise the debt ceiling. >> new this morning, gay marriage ceremonies are under way in maryland. same-sex couples have
there is one tax that will rise for most workers. we're talking about the 2% payroll tax cut that was part of an obama stimulus that was passed two years ago and then extended for another year. in this deal, they're going to let that payroll tax cut expire and that will mean that an additional $20 a week out of most workers paychecks will now go back to the social security trust fund instead of into their pockets. juror all right. thank you -- >> all right. thank you for that report....
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Dec 30, 2012
12/12
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tax. it will help to rebuild our crumbling infrastructure. would that crum bem our economy instead . i am tracey in for cheryl casone. welcome to carbin'. wayne john and john and julian and carroll. welcome everyone. so, oregon's democraticic congressman asking for a mileage tax to rebuild our roses and bridges. john is thi good or bad what s going on here? >> this is a ridiculous. it is the wrong time to implement it. electric cars are decades away . having a mileage tax is cadesway . putting odom heretos and logging down to the mileage manually. this would cost a fortune for the tax. we have a gas tax that is do go through road and bridges. >> and talking about a vehicle miles traveled tax. someone like me wayne, so much. i understand why people would want to clarge me more. >> i understand it, too. but john is right we have a fuel tax. and and it is it another way to track pime and look for trouble . you got auelax and fuel x is a huge tax . they are using the argument to get better mil
tax. it will help to rebuild our crumbling infrastructure. would that crum bem our economy instead . i am tracey in for cheryl casone. welcome to carbin'. wayne john and john and julian and carroll. welcome everyone. so, oregon's democraticic congressman asking for a mileage tax to rebuild our roses and bridges. john is thi good or bad what s going on here? >> this is a ridiculous. it is the wrong time to implement it. electric cars are decades away . having a mileage tax is cadesway ....
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Dec 30, 2012
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you got a fuel tax and fuel tax is a huge tax . they are using the argument to get better mileage now. maybe you don't need to do so much. it is based on mileage. >> wayne makes a good point about the privacy issue. transponder tracking my mile it is big brotherish. >> it is and john makes a good argument against it it is a important policy work. its probably a bad idea. we don't need new tax. thmileage tax could hurt fuel efficient car it is the and questions o heavy congesti times and it is unworkable idea and why the obama administration distanced it. >> we he a trust fund in 2013 and that is to go to the roads. it will be negative and needs a fuel tax to fund it again. >> it is not too long. it will go negative in 2015. the gas tax is raised continuously since it was enacted in the 1950s. they are paying 64 cents a gallon in taxings. why is that the only proposal. it why not freedom. there is it public assets in every country but here at home. la guardia. terrible airport owned by the government. new xico and new zealand. airpo
you got a fuel tax and fuel tax is a huge tax . they are using the argument to get better mileage now. maybe you don't need to do so much. it is based on mileage. >> wayne makes a good point about the privacy issue. transponder tracking my mile it is big brotherish. >> it is and john makes a good argument against it it is a important policy work. its probably a bad idea. we don't need new tax. thmileage tax could hurt fuel efficient car it is the and questions o heavy congesti times...
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Dec 31, 2012
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never ever to raise taxes. all but 7 of my republican friends have taken that pledge which is a huge impediment to our getting something done. >> do they have to stick to that pledge? >> i hope they will renounce that pledge. the only pledge worth taking when you get elected to the united states congress is to the constitution of the united states. >> let's back up a little bit. talk about what's happened over the weekend what's going on in the senate and seeing that rita cannot seem to come to any sort of agreement now that the vice president being called in. what does that say when the vice president is being called in to broken some sort of a deal? >> well, obviously, phil roe before me said wouldn't it have been nicer if regular order would have worked? i agree with that but we were out in recess for 15 weeks not doing this job. so the fact that you got to call in the cavalry at the last minute to rescue a deal if that's what it takes, so be it. but what's important to me is we try to avoid this cliff on be
never ever to raise taxes. all but 7 of my republican friends have taken that pledge which is a huge impediment to our getting something done. >> do they have to stick to that pledge? >> i hope they will renounce that pledge. the only pledge worth taking when you get elected to the united states congress is to the constitution of the united states. >> let's back up a little bit. talk about what's happened over the weekend what's going on in the senate and seeing that rita...
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Dec 24, 2012
12/12
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the country faces massive mandatory tax increases and federal spending cuts on january 1st. meanwhile one republican congressman says president obama wants america to go over that cliff >> it is unclear when the president will return from hawaii. staffers for both sides are expected to be communicating over the next few days >> egypt's leading opposition party says it plans to appeal the results of yesterday's constitutional referendum. preliminary results show the new constitution passed with 64- percent of the vote. but opponents say it limits their rights -- and is not legitimate because the voting procedure didn't follow guidelines. parliamentary elections are scheduled in two months -- and the opposition hopes to present a united front by then. some 68-percent of egyptians did not vote in the referendum. >> former president george h. w. bush is showing signs of recovery but may not be home to celebrate christmas with his family. he has been hospitalized since november with a brown tide is related cough. in a statement from hospital his doctors are optimistic he will mak
the country faces massive mandatory tax increases and federal spending cuts on january 1st. meanwhile one republican congressman says president obama wants america to go over that cliff >> it is unclear when the president will return from hawaii. staffers for both sides are expected to be communicating over the next few days >> egypt's leading opposition party says it plans to appeal the results of yesterday's constitutional referendum. preliminary results show the new constitution...
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Jan 1, 2013
01/13
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a new year and new taxes to pay for obamacare. but will it cost jobs? do you think it may affect the number of people you can hire? keeping times square safe on new year's eve. seth doane behind the scenes with the f.b.i. and michelle miller on the portraits that tell the story of the mepls. >> reporter: what are theying? what is it they're trying to convey in these pictures? >> captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. scott is off tonight, i'm anthony mason. america went over the fiscal cliff at midnight, but we are still waiting to see if it will be a hard fall or a soft landing early this morning, the senate passed a compromise bill that raises income taxes for individuals earning $400,000 a year and families earning $450,000. everyone else would be spared. it would also delay spending cuts for at least two months, and that does not sit well with many house republicans. so where do we go from here? we have two reports beginning with nancy cordes at the capitol. >> reporter: anthony, house
a new year and new taxes to pay for obamacare. but will it cost jobs? do you think it may affect the number of people you can hire? keeping times square safe on new year's eve. seth doane behind the scenes with the f.b.i. and michelle miller on the portraits that tell the story of the mepls. >> reporter: what are theying? what is it they're trying to convey in these pictures? >> captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley:...
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Dec 30, 2012
12/12
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. >> missouri senator ray blunt says that politicians on both sides have irresponsibility, but tax hikes will not do much to address the nation's debt. >> it will not pay one-third of the annual interest now on this massive $16 trillion debt. >> the house returns to washington sunday evening when the before a deal needs to be reached. it is likely that negotiators will be burning the midnight oil. >> a 23-year-old indian woman who was raped and viciously beaten in new delhi has died from her injuries. her body is being flown back to new delhi from singapore were she was being treated. in an unprecedented display of grief and anger, protesters are mourning her death. the victim, a medical student has not been identified. the protesters have vowed that her death will not be in vain. in new delhi, a report -- it is reported on average every 15 hours. >> it is the kind of insensitive treatment that some of the politicians and some of the people. >> some of the people like us have come not to do not normally protest because nobody is safe in the city anymore. >> the woman died of severe inter
. >> missouri senator ray blunt says that politicians on both sides have irresponsibility, but tax hikes will not do much to address the nation's debt. >> it will not pay one-third of the annual interest now on this massive $16 trillion debt. >> the house returns to washington sunday evening when the before a deal needs to be reached. it is likely that negotiators will be burning the midnight oil. >> a 23-year-old indian woman who was raped and viciously beaten in new...
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Dec 29, 2012
12/12
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. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking about how to retroactively avoid going off the fiscal cliff on a new congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up any odd jobs as much as she can. >> it's been discouraging. i come in here thre
. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking...
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Jan 1, 2013
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payroll tax. it also kicked the can down the road on automatic spending cuts for the defense department and domestic programs. they've been postponed for two months. as lee cowan reports, that uncertainty has many business owners worried. >> reporter: jo ann vinute is running the numbers. her payroll is due this week. although she at least now has a hint on what taxes to withhold from her dozen employees, that's only half her worry. unresolved spending cuts are the other. >> it's very uncertain and very unnerving and very -- causes a lot of anxiety and a lot of lack of sleep. >> reporter: she's the president of golden state magnetic. a $2 million a year los angeles company that inspects, cleans and paints high-tech aircraft and aerospace parts. everything from fighter jets to mars rovers. any cuts in defense spending could mean cuts in her business, too. and the waiting has her on a fiscal cliff of her own. what does it do if there's another, you know, month, two months, three months of this? >> i
payroll tax. it also kicked the can down the road on automatic spending cuts for the defense department and domestic programs. they've been postponed for two months. as lee cowan reports, that uncertainty has many business owners worried. >> reporter: jo ann vinute is running the numbers. her payroll is due this week. although she at least now has a hint on what taxes to withhold from her dozen employees, that's only half her worry. unresolved spending cuts are the other. >> it's...
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Jan 1, 2013
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WMAR
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a hefty spike in taxes. beau, a government contractor, and deanna, an office worker, make a combined income of about $60,000. without a deal, their income taxes will rise by roughly $2,400 a year. on top of that, like everyone else earning $110,000 or less, they'll pay higher payroll taxes to pay for social security. with or without a deal, those are set to go up across the board by 2%. and for the martins, that means they'll pay an additional $1,200 a year. income and payroll tax increases combined, the martins are looking at an additional $3,600 in 2013. and it doesn't stop there. without a deal, feeding their 2-month-old baby daughter, grace, could cost the martins a lot more, too. every american faces the potential for a huge jump in milk prices. the farm bill has stalled, and subsidies have been rolled back. without a deal securing that help for farmers, the price of a gallon of milk could shoot up to almost $7 a gallon. families paying the price at the grocery store. >> very alarming numbers here. bian
a hefty spike in taxes. beau, a government contractor, and deanna, an office worker, make a combined income of about $60,000. without a deal, their income taxes will rise by roughly $2,400 a year. on top of that, like everyone else earning $110,000 or less, they'll pay higher payroll taxes to pay for social security. with or without a deal, those are set to go up across the board by 2%. and for the martins, that means they'll pay an additional $1,200 a year. income and payroll tax increases...
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Dec 27, 2012
12/12
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CNBC
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while the talking heads on tv go on about tax cuts for the rich and we get them, will we not get them, had is about spending and have to address spending now. >> when you read his moats, the -- outline that he sends to harry reid, he says the government is spending $100 billion more per month than what it brings in. i mean, it is really incredible. what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee business days, as you say before, the actual deadline itself, that's disconcerting. but -- again, it is not surprising. i don't think it has any -- will peak the negotiations at all, frankly. not at all. >> what about the secretary's use of this phrase -- the
while the talking heads on tv go on about tax cuts for the rich and we get them, will we not get them, had is about spending and have to address spending now. >> when you read his moats, the -- outline that he sends to harry reid, he says the government is spending $100 billion more per month than what it brings in. i mean, it is really incredible. what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the...
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Dec 24, 2012
12/12
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CSPAN
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they are holding out for keeping tax rates down where the public has said tax rates should go up. way back before 2010, the public was saying it. there also behind in the image perspective. they are seen as the party of extremism and the summer of 2011 -- the summer did not engage deeply with the policy debates. they sniff out very early on -- the public of more sophisticated than some people think. there were no merits being used to make other political argument and people were very frustrated about that. nobody came of that debate looking good. that is when we started to see a wider opening in the gap of the leaders of the two political parties and the republican party has not overcome that image. they're playing a very similar strategy. >> how do you factor into your polls what the political workers call from game? you have to attribute that to get out the vote efforts. do you try to factor is that in before? >> it is one of the challenges. campaigns are using technology -- there is a much more targeted effort in the pacific states and it is a sophisticated they know and we are
they are holding out for keeping tax rates down where the public has said tax rates should go up. way back before 2010, the public was saying it. there also behind in the image perspective. they are seen as the party of extremism and the summer of 2011 -- the summer did not engage deeply with the policy debates. they sniff out very early on -- the public of more sophisticated than some people think. there were no merits being used to make other political argument and people were very frustrated...
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Dec 31, 2012
12/12
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KPIX
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the month is almost over and we are one day over from americans getting tax hikes. randall pinkston is live with the lack of opt -- optimism. >> reporter: yes, but the senate and house are in town. unusual between new year's and christmas for that to happen. one senator is calling it not a great attitude in congress right now. >> senator? >> reporter: 7 tors arrived to continue last-minute negotiations hours before the nation is set to fall off of the so-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising whic
the month is almost over and we are one day over from americans getting tax hikes. randall pinkston is live with the lack of opt -- optimism. >> reporter: yes, but the senate and house are in town. unusual between new year's and christmas for that to happen. one senator is calling it not a great attitude in congress right now. >> senator? >> reporter: 7 tors arrived to continue last-minute negotiations hours before the nation is set to fall off of the so-called fiscal cliff....
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Jan 1, 2013
01/13
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WMAR
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and new taxes and fees. and the first of the year means the rose parade. you can expect to -- what you can expect to see coming up later today. >>> as we go to break pictures of moscow. them bringing in the new year with a wonderful fireworks display. this over red square. good morning maryland continues in few moments. >>> the new year means new laws and we have a few that are take effect in maryland and there's pretty interesting ones on the books in other parts of the u.s. it's now illegal to sell, trade or possess shark fins in illinois. and in florida, you no long ver to register your swamp buggy and in ken to tucky it's illee to release a wild hog into the wild. that's what the law says. no lodger releasing -- know longer releasing wild hogs into the wild. enjoying your day off nursing that hangover check out tournament of roses parade coming up this morning. more than a million people will line the parade route in california. it takes 8 0,000 hours of manpower to complete the floats and there are 42 o
and new taxes and fees. and the first of the year means the rose parade. you can expect to -- what you can expect to see coming up later today. >>> as we go to break pictures of moscow. them bringing in the new year with a wonderful fireworks display. this over red square. good morning maryland continues in few moments. >>> the new year means new laws and we have a few that are take effect in maryland and there's pretty interesting ones on the books in other parts of the u.s....
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Dec 29, 2012
12/12
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WUSA
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but gary points out, the president wants more taxes only on the well to do. so taxing the rich will not get all some may want but that does not mean they should not pay what they ought to pay, and that is what they paid in 1999. okay then, okay now. you want to pay down the national debt? put everyone to work. that was doing it 15 years ago, and that can do it now. >>> that is our broadcast for tonight. we'll hope you will be around for our broadcast at 1 1:00. i will be here with erica. we'll see you then. have a great evening. bye-bye. >>> from cheating to fist fighting to a drug overdose, the biggest celebrity scandals of 2012. >>> lindsay lohan's arrest. are you afraid your daughter's going to go back to jail? >> dena's appearance with dr. phil. >> in your little shoes. >>> demi moore's wild dancing and the frantic calls to 911. >> she's convulsing. >>> "twilight's" kristen stewart caught cheating on r-pat. >>> plus a "two and a half men's" star trashing his show. >> please stop watching. >>> halle berry's ex and her fiance in a nasty brawl. the beating p
but gary points out, the president wants more taxes only on the well to do. so taxing the rich will not get all some may want but that does not mean they should not pay what they ought to pay, and that is what they paid in 1999. okay then, okay now. you want to pay down the national debt? put everyone to work. that was doing it 15 years ago, and that can do it now. >>> that is our broadcast for tonight. we'll hope you will be around for our broadcast at 1 1:00. i will be here with...
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Jan 1, 2013
01/13
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CSPAN2
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earned-income tax credit. earned-income tax credit is a measure passed during the reagan administration which said that we would give working families a tax benefit for working. earned-income tax credit. and that is probably, as president reagan described it, the best way to eliminate reduced poverty in our nation. so the earned-income tax credit has been extended for five years. the child tax credit, which does exactly what it says, says to families with children, we will give you a tax credit to help you raise those children, that too was renewed for another five years. and a provision in the law which was added by senator schumer of new york years ago which helps working families to pay for college education, that too was included in this measure. so from a working family perspective, there are many good and important elements that were included in this measure. we also considered a lot of other tax measures, some of which i liked and some i didn't like. one of them in particular, the estate tax, is a tax t
earned-income tax credit. earned-income tax credit is a measure passed during the reagan administration which said that we would give working families a tax benefit for working. earned-income tax credit. and that is probably, as president reagan described it, the best way to eliminate reduced poverty in our nation. so the earned-income tax credit has been extended for five years. the child tax credit, which does exactly what it says, says to families with children, we will give you a tax credit...
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Dec 31, 2012
12/12
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WMAR
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pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: but the sticking point. how long to push off those massive manda tore pri spending cuts that would go into effect in the new year. democrats want a one-year extension. republicans insist on dealing with it sooner. if there has no overall agreement, americans will feel the impact of the fiscal cliff very quickly. the average american family will see a tax increase of more than 3400. if the senate is able to pass a deal, top house republicans aren't confident they'll have the time to get it done by midnight, which means taxes will go up, but the house will meet tomorrow, and they will be voting on a tax cut. >>> so, while there is still no deal on the cliff chef, lawmakers have reached a tentative agreement to keep milk prices from going up in 2013. the house and senate have developed a short-term farm extension bill that who last one year. it's not clear when they who bring it to a vote. if the measure isn't passed by midnig
pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: but the sticking point. how long to push off those massive manda tore pri spending cuts that would go into effect in the new year. democrats want a one-year extension. republicans insist on dealing with it sooner. if there has no overall agreement, americans will feel the impact of the fiscal cliff very quickly. the average american family will see a tax increase of more than 3400. if the senate...
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Dec 24, 2012
12/12
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FBC
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is that enough to offset what could be higher taxes? >> many are concerned with taxes. a high percentage of them. i would say the fear of the unknown is probably the biggest challenge. for a franchisee, there is tremendous opportunity out there. taxes or obamacare will not influence negatively those who will do a great job opening their own business. lori: because of the political climate, you do see shifts in the types of franchises that are the most profitable. child care, senior citizen care, moving companies -- why is that? >> it will absolutely be the year of that. there are lower startup costs. they are looking at businesses that will be able to make the most money. obviously, being passionate about it is critical. at the end of the day, you will make more dollars with a service brand than anything else. lori: explain that to me in more detail why the restaurant industry is taking a back seat? >> we did not say it is taking a backseat, more savvy entrepreneurs are getting into the market now. financially, you will take a lower net percentage typically been on a se
is that enough to offset what could be higher taxes? >> many are concerned with taxes. a high percentage of them. i would say the fear of the unknown is probably the biggest challenge. for a franchisee, there is tremendous opportunity out there. taxes or obamacare will not influence negatively those who will do a great job opening their own business. lori: because of the political climate, you do see shifts in the types of franchises that are the most profitable. child care, senior...
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Dec 31, 2012
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republicans want a higher income tax threshold. republicans want to keep the estate tax from going up. and there's no agreement on what to do about automatic spending cuts. those are set to go into effect on january 2. >>> now to a deadly bus crash on a slick highway in eastern oregon. a tour because went off an icy section of interstate 84 yesterday morning and tumbled down a steep embankment, killing 9 and injuring more than 20 others. the bus was traveling from las vegas to vancouver when it lost control. the driver survived but was too badly hurt to speak with police. >>> here is your new year's eve forecast. up to a foot of mountain snow in the southern rockies. 5 inches from kansas to southern illinois. thunderstorms from much of texas, oklahoma city, little rock and memphis. rain and mountain snow in the northwest. flurries from michigan to northern new england. >> chilly from the west coast to the midwest and northeast. 20s in the northern rockies. just 2 degrees in fargo and 14 in minneapolis. 30s from chicago to new york.
republicans want a higher income tax threshold. republicans want to keep the estate tax from going up. and there's no agreement on what to do about automatic spending cuts. those are set to go into effect on january 2. >>> now to a deadly bus crash on a slick highway in eastern oregon. a tour because went off an icy section of interstate 84 yesterday morning and tumbled down a steep embankment, killing 9 and injuring more than 20 others. the bus was traveling from las vegas to...
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Jan 1, 2013
01/13
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estate tax in familiar. and it was at 35% right now. democrats wanted to raise it to 45%. it looks like it will be 40%, beginning with $5 million. >> senate getting ready to vote now and then goes to the house and we'll see what happens there. >> yes. and they reconvene at noon today. no football games for them, right? >>> this holiday will be another day in the hospital for secretary of state hillary clinton after doctors discovered a blood clot in her head. she's being treated in a manhattan hospital. >> reporter: hillary clinton's doctors say they detected a clot in the vein between her brain and skull. she's being treated with blood thinners to help dissolve the clot. the doctors add that she's in good spirits and is making excellent progress. clinton's medical problems began after she finished a grueling trip to europe. she developed a stomach virus, which caused severe dehydration. days later she fainted and suffered a concussion. then came the discovery of the blood clot. this is the second time clint
estate tax in familiar. and it was at 35% right now. democrats wanted to raise it to 45%. it looks like it will be 40%, beginning with $5 million. >> senate getting ready to vote now and then goes to the house and we'll see what happens there. >> yes. and they reconvene at noon today. no football games for them, right? >>> this holiday will be another day in the hospital for secretary of state hillary clinton after doctors discovered a blood clot in her head. she's being...
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Dec 31, 2012
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. >> in less than 24 hours everyone's taxes will go up unless congress can manage to stifle the deal. reporter shows us after negotiations on capitol hill, there is still no agreement. >>> members of congress left meetings in capitol hill sunday without a deal. the so-called fiscal cliff. >> there is still significant distance between the 2 sides but negotiations continue. >> if republicans and democrats can't strike a deal, tax rates will go up for all americans and automatic tax cuts will kick in and millions will lose unemployment benefits. i want this done. >> they withdrew the proposal but cut the deficit by slowing social security. there is some movement as both sides try compromise about which americans start paying tax rates. >> republicans don't want to see new revenues, in other words democrat tax increase being used for new spending. >> in unusual move republicans called for a no. 2 democrat, biden to help with negotiations as the white house places a lot of blame on the impasse. >> they say the bill biggest priority is we deal with the debit. their way is the only priority
. >> in less than 24 hours everyone's taxes will go up unless congress can manage to stifle the deal. reporter shows us after negotiations on capitol hill, there is still no agreement. >>> members of congress left meetings in capitol hill sunday without a deal. the so-called fiscal cliff. >> there is still significant distance between the 2 sides but negotiations continue. >> if republicans and democrats can't strike a deal, tax rates will go up for all americans and...
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Dec 28, 2012
12/12
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KBCW
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one supporter in particular. >> my own mom at christmas dinner told me do not raise my taxes. she is following just like other americans what's going to happen with the fiscal cliff. >> reporter: representative elect says his new office in dc won't be much bigger, butt responsibilities monumental. his message? >> mom, i'm working for you. i'm receiving your text messages. and i'm going to make sure i stand up for you and the people who i grew up with. >> reporter: he will be the second youngest member of congress when he's sworn in january 3rd. he leaves this sunday for washington, d.c. to pick up his new keys to his office. in dublin, juliette goodrich. >> walnut creek police are investigating a fatal officer- involved shooting. police got a 911 call from a screaming woman around 3:00 a.m. they say they were confronted by an armed man. they would not say what weapon he had. officers fired. it was walnut creek's first shooting death of the year and the first officer-involved shooting since 2001. >>> an armed robbery of a 7-11 is caught on camera. two men pulled out a handgun s
one supporter in particular. >> my own mom at christmas dinner told me do not raise my taxes. she is following just like other americans what's going to happen with the fiscal cliff. >> reporter: representative elect says his new office in dc won't be much bigger, butt responsibilities monumental. his message? >> mom, i'm working for you. i'm receiving your text messages. and i'm going to make sure i stand up for you and the people who i grew up with. >> reporter: he...
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Dec 30, 2012
12/12
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WJLA
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hike. >> what i am arguing for is maintaining tax cuts for 90% of americans. i did not think anybody would consider that and liberal, left- wing agenda. >> republicans say their agenda, not stifling an already fragile economy with tax hikes on those who are behind small business. >> the higher you set that level, the less small business you will get. >> what had been high hopes had turned sour, with senate leaders said today that talks are now at a standstill. >> the issue is the balance between the cuts and revenue. what we call for is balance. republicans in the house have refused even one penny so far from people earning more than $1 million. >> that is the problem that we have been hearing. republicans floated out a proposal to change the way social security payments are considered. analysts say you'll notice it on your paycheck as early as the end of january. the pentagon prepared to offer low potentially hundred thousand workers. -- furlough potentially 800,000 workers. >> it is been years since the redskins have had a game as important as tonight. >> th
hike. >> what i am arguing for is maintaining tax cuts for 90% of americans. i did not think anybody would consider that and liberal, left- wing agenda. >> republicans say their agenda, not stifling an already fragile economy with tax hikes on those who are behind small business. >> the higher you set that level, the less small business you will get. >> what had been high hopes had turned sour, with senate leaders said today that talks are now at a standstill. >>...
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Jan 1, 2013
01/13
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WBFF
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estate tax...ovvr that aaount... the tax rate would go from 35 to 40-percent wwll apparently be delayed for two monnhs...the delay will be &ppaid for by 12 billion dollars in new revenue and 12 billion dollars in spending cuts 3 2012 turned out to be a far more deadlier year in baltimore city. the last murderrvictim of 2012 died just 14 minutes before the neww year.. tonnght... crime and justiceereporter joy lepola 3 bring that number ddwn. 3& in 2011, the city saw a 3 thaa 2-hundred people were murdered.. record that fell by the wayside t the trike of midnight. thii in a city deemed the 7th deadliest byy forbes magazine. ((pkg))19:19:442(gessler sound))-johny mcfadden 62... kendal stetten 27 they are theenames of those whh were murdered in - baltiiore city in 2012. 3 just before the ewwyear was &pushered in. 217 lives lost.... 20 more compared to the - historic low of 2011. 18:57:33(gessler -batts) we -3can ddop that number below 197 & 197 are still too many lives being loss... too me brothers - uncles ttoomany fath
estate tax...ovvr that aaount... the tax rate would go from 35 to 40-percent wwll apparently be delayed for two monnhs...the delay will be &ppaid for by 12 billion dollars in new revenue and 12 billion dollars in spending cuts 3 2012 turned out to be a far more deadlier year in baltimore city. the last murderrvictim of 2012 died just 14 minutes before the neww year.. tonnght... crime and justiceereporter joy lepola 3 bring that number ddwn. 3& in 2011, the city saw a 3 thaa 2-hundred...
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Dec 27, 2012
12/12
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FBC
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happened, tax increases. john boehner was offered 121. not only are they phony, they get smaller. negotiation to walk into. eric: we have to leave it there, grover norquist, thank you. imagine every ship in port for massachusetts to texas shut down, nothing gets in or out. if they don't get their way, will everybody pay? this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just g "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture ca! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am on the naughty list again? ho ho ho! >> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a
happened, tax increases. john boehner was offered 121. not only are they phony, they get smaller. negotiation to walk into. eric: we have to leave it there, grover norquist, thank you. imagine every ship in port for massachusetts to texas shut down, nothing gets in or out. if they don't get their way, will everybody pay? this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just g...
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Dec 31, 2012
12/12
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FBC
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the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security tax by a couple points. all of that ongoing right now and that is really the last hope we have to get something done before the fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a number of procedural maneuvers tonight to pave the way for quick votes over the next few days. they are not actively involved in the negotiations but if these two are to get a deal, vice president and senate minority leader the house could do a quick vote. >> two other things, first, if they don't do a deal, what can the average american, expect as far as
the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security tax by a couple points. all of that ongoing right now and that is really the last hope we have to get something done before the fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make...
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Dec 31, 2012
12/12
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CNNW
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the other place is the estate tax. the estate tax is scheduled to rise by quite a bit at the stroke of midnight tomorrow night. republicans want to keep it low, democrats want it to go up a little bit. there's room for compromise there. and so, you know, it's not just marginal rates that are going up, there's a series of taxes that they're going to change. the thing that could not be settled today was this change cpi. essentially a benefit cut for social security recipients. that led to a breakdown in negotiations today, because republicans wanted those benefit cuts to social security. and democrats said no way. and that was the sticking point and that's when this thing moved from the senate over to biden and mcconnell where it is and will be overnight. we're not going to know until tomorrow morning if they come up with something. >> yes, and the senate went home, obviously. here's my question. i know we're americans, we're very myopic, we like to think everything is just about us here. this isn't just about americans,
the other place is the estate tax. the estate tax is scheduled to rise by quite a bit at the stroke of midnight tomorrow night. republicans want to keep it low, democrats want it to go up a little bit. there's room for compromise there. and so, you know, it's not just marginal rates that are going up, there's a series of taxes that they're going to change. the thing that could not be settled today was this change cpi. essentially a benefit cut for social security recipients. that led to a...
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Dec 31, 2012
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WJLA
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and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a million americans in times square tonight. this evening, the security, the weather. some of the coldest temperatures of the winter. and what we didn't note about something else that will be falling at midnight. ginger zee in times square. >>> and, so long. >> so long. so long. so long. >> the man who said himself, "the show must go on." the first new year's without dick clark, as we heard tonight from his wife. she answers the one question she says so many have been asking her. >>> good evening on this new year's eve. diane counting down with her family. tonight, the other countdown here. the one in washington. ton
and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a...